Stocks opened lower on Monday morning as investors prep for the Fed's looming rate hike, which the markets say will occur with certainty during the central bank's December meeting, following last week's strong October jobs report. Though disappointing news out of China is on investors’ minds Monday - imports fell 18.8 percent year-over-year as of October, while exports sunk 6.9 percent. As for earnings, Priceline (PCLN) shares were lower after the travel booking website reported guidance of $11.90 a share for the fourth quarter, below estimates of $12.42. Sotheby's (BID) reported better than expected third quarter results, posting a net loss of 26 cents a share, a penny ahead of estimates. Revenue soared 47 percent year-over-year. In deal news, Weyerhaeuser (WY) is buying Plum Creek Timber (PC) for $8.4 billion - the deal marries the two biggest owners of timberland across the U.S. Plus, Boeing (BA) scored an order from Jet Airways India for 75 737-jetliners worth about $8 billion – an order booked during the Dubai Air Show. TheStreet’s Scott Gamm reports from New York.
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